Macroeconomics

For courses in undergraduate Macroeconomics courses.

A modern approach to teaching macroeconomics    

Macroeconomics uses a thoroughly modern approach by building macroeconomic models from microeconomic principles. As such, it is consistent with the way that macroeconomic research is conducted today. This approach allows for deeper insights into economic growth processes and business cycles–the key topics in macroeconomics. An emphasis on microeconomic foundations better integrates the study of macroeconomics with approaches learned in microeconomics and field courses in economics. By following an approach to macroeconomics that is consistent with current macroeconomic research, students become better prepared for advanced study in economics.

The 6th Edition captures the latest developments in macroeconomic thinking, applied to recent economic events and developments in macroeconomic policy. With the financial crisis receding, new challenges that macroeconomists and policymakers currently need to address are covered in the text. 

Features

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content which is especially relevant to students outside the United States.

• A modern approach has students build macroeconomic models from microeconomic principles, and is consistent with the way macroeconomic research is conducted today. Advantages for students: 
  • Allows deeper insights into economic growth processes and business cycles, which are the key topics in macroeconomics.
  • Better integrates the study of macroeconomics with what will be covered in economics and microeconomics courses.
  • Helps students better prepare for advanced study in economics.
• Real­-world applications give students insider insight. It’s important for students to not only learn the principles and theories, but to also understand how they apply to the real world–and their future careers. This text contains features that encourage students to put theory into real­-world practice: 
  • Theory Confronts the Data feature brings macroeconomic theory to life by having students match the characteristics of real­-world economic data.
  • Macroeconomics in Action feature relates real­-world applications to theory, summarizes ideas from front­line research in macroeconomics and the history of economic thought, and aids students in understanding core material.
  • Perspectives on the Financial Crisis boxes use the theoretical frameworks in the text to present information on the recent worldwide financial crisis and its implications for the 2008­-09 recession.
• A comprehensive art program shows concepts in action. Graphs and charts are plentiful in this text, helping students to see the concepts in action. The visual representations of macroeconomic models in this text can also be manipulated to derive important results and show key features of important macro data in applications.
• End-­of-­chapter summaries make studying and retention easier. Each chapter wraps up with an easy-­to-­read summary of the key ideas contained in the chapter, followed by a glossary of key terms. The terms are also highlighted in bold where they appear within the chapter so that students can revisit the definitions in context.
• NEW! End-of-chapter questions and problems relate directly to ideas and facts covered in the chapter and are intended to challenge students’ proficiency.
• Working with the Data sections at the end of each chapter help students to use the FRED database, provided by the Federal Reserve Bank of St. Louis.